OJK Cracks Down on Non-Compliant Financial Services Providers

Administrative Sanctions Imposed on Multiple Entities

The Financial Services Authority (OJK) has taken decisive action against various financial services companies by imposing administrative sanctions on multiple entities in December 2025. The regulatory body penalized 24 multifinance companies and 23 fintech peer-to-peer (P2P) lending platforms for non-compliance with existing regulations.

Scope of Sanctions

The sanctions extended beyond multifinance and fintech lending platforms to include:

• 6 venture capital companies
• 4 microfinance institutions
• 13 private pawnshops
• 1 specialized financial institution

According to Agusman, Head of Executive Supervisor for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services at OJK, the sanctions were part of the regulator's efforts to maintain compliance within the financial services sector. The action was announced during the OJK RDK press conference on January 9, 2025.

Regulatory Compliance Focus

The OJK's enforcement action demonstrates its commitment to strengthening regulatory oversight in Indonesia's financial services industry. The sanctions serve as a warning to other financial services providers to adhere strictly to regulatory requirements, particularly in the rapidly evolving fintech sector.